Making a big investment of any kind can be excitingly terrifying. When you decide that it's time to buy your first home the fear may overwhelm the joy that should be felt during such an exciting time. Here, you'll find a few tips to help you prepare for this next chapter in your life.

Talk with a Lender

There are some really great incentives for first time home buyers. Before you go out and start looking at homes, start by talking with a lender about the type of loans and programs available to you. It's possible that you'll get assistance with the down payment, maybe the closing costs or a reduction in the cost of inspections and services. To find out what is currently being offered to first time home buyers, talk with a lender that specializes in mortgages — both first time and traditional mortgages.

Do Not Forget Insurance                                                     

When you buy a home, you will have to carry homeowners insurance coverage on it. Homeowners insurance protects you from various financial losses. If the house is damaged by a tree falling through the roof, or if water lines burst in the basement, this is the insurance that will cover the cost to repair.

Homeowners insurance also protects you from financial liabilities if someone is to get injured on your property.

Know that the greater the home's value, the higher the premiums will be for your insurance policy. This is an expense that you cannot skip — the lender will require the insurance and you don't want to risk your investment to save a little money each month.

Work with an Agent

Since this is your first home, it's unlikely that you have any idea what it takes to buy a home. Not only do you have to find the home and the financing to buy it, but you'll also have to make sure that the home is up to code and that you're not getting a house that won't pass final inspections and cost you a fortune in repairs during the first year. Your real estate agent will help you through the selection process and help you avoid making a costly mistake.

Take your time — this is nothing to rush through — after all, this is where you'll live for the next several years. Hopefully, the information above helps you get started in your first home buying experience. A good lender, a skilled agent, and a little patience will get you there.